Dividend Aristocrats Spotlight 09

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Dividend Aristocrats Spotlight: Coca-Cola

Dividend Aristocrats Spotlight | April 06, 2023
STRATEGY Dividend Growers
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Best known for its eponymous product, The Coca-Cola Company (NYSE: KO) is one of the world’s most recognizable beverage companies. Who wouldn’t “like to buy the world a Coke” after all? Coca-Cola’s global presence and strong brand recognition famously attracted the investment of Warren Buffett in the late 1980s, and it remains a top holding in Berkshire Hathaway’s portfolio today.

Coca-Cola has cultivated a special connection with generations of consumers, building a remarkably loyal customer base over its long history. Coca-Cola commands a convincing lead in the carbonated soft drink category, with a unit case volume share of 46.3% in the U.S. market in 2021.1

For six decades, Coca-Cola has rewarded its shareholders with consistently increasing dividends.2 In Berkshire Hathaway's 2022 Annual Report, Warren Buffett noted the power of dividend growth, stating that “growth occurred every year, just as certain as birthdays. All Charlie [Munger] and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow.”3
 
Coca-Cola’s Cumulative Growth of Dividends Since 1979
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Source: Bloomberg. Data from 12/31/79 to 12/31/22. The performance quoted represents past performance and does not guarantee future results. Indexes are unmanaged, and one cannot invest directly in an index.
 

The Coca-Cola Company is a great example of what it means to be an S&P 500 Dividend Aristocrat. Explore all the companies in the S&P 500 Dividend Aristocrats Index with the ProShares S&P 500 Dividend Aristocrats ETF (NOBL).

1Source: Beverage Digest
2Source: ProShares and S&P Dow Jones Indices.
3Source: Berkshire Hathaway Inc. 2022 Annual Report, https://www.berkshirehathaway.com/2022ar/2022ar.pdf
 
 

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Holdings are subject to change. As of 3/29/23, NOBL included a 1.58% allocation to The Coca-Cola Company.

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